Question: Company C issues $ 1 0 m , 5 year, 1 0 % semi - annual coupon bonds on 3 0 June 2 0 2

Company C issues $10m,5 year, 10% semi-annual coupon
bonds on 30 June 2024. Assume that the market requires
12% for the debentures.
What would be the issue price?

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